Topdanmark interim report for Q1 2024

Topdanmark interim report for Q1 2024

16 April 2024

Announcement no. 05/2024

Highlights

Q1 2024

• Profit after tax of DKK 377m (Q1 2023: DKK 373m)
• Operating EPS was DKK 4.4 (Q1 2023: DKK 4.2)
• Combined ratio: 84.8 (Q1 2023: 83.6)
• Combined ratio excluding run-off profits: 88.4 (Q1 2023: 85.9)
• Insurance revenue increased by 11.9% with an organic growth of 4.3%
• Net investment result was DKK 159m (Q1 2023: DKK 106m).

 Profit forecast model for 2024

• The expected organic insurance revenue growth is unchanged at above 4.5%.
• The assumed combined ratio for 2024 is improved from 82-85 to 81.8-84.8 incl. run-off.
• The profit forecast for 2024 has been improved from DKK 1,150-1,425m to DKK 1,250-1,525m after tax and including run-off.

Annual General Meeting

The Annual General Meeting (AGM) will take place 23 April 2024 at 13:00 (CEST), and it will be held as a fully virtual AGM. All relevant information pertaining to the annual general meeting can be found on our website.

Conference call

A conference call will be held today at 11:00 (CEST) in which Peter Hermann, CEO, and Lars Kufall Beck, CFO, will be available for questions based on the results. The call will be conducted in English.

To participate in the conference call, please call:

DK dial-in number: +45 32 74 07 10

SE dial-in number: +46 8 505 246 90

UK dial-in number: +44 20 3481 4247

US dial-in number: +1 (646) 307 1963

(Conference ID 3990986)

10-15 minutes before the conference and ask the operator to connect you to the Topdanmark conference call – or listen to the live transmission of the call.

 

Please direct any queries to:

Peter Hermann

Chief Executive Officer

 

Lars Kufall Beck

Chief Financial Officer

 

Robin Hjelgaard Løfgren

Head of Investor Relations

Direct tel.: +45 4474 4017

Mobile tel.: +45 2962 1691

 

Topdanmark A/S
CVR no. 78040017
Borupvang 4
2750 Ballerup